MIRA INFORM REPORT
|
Report Date : |
08.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ANUPAM INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
138, GIDC Estate, Vithal Udhyog Nagar, district Anand-388121, Gujarat |
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Country : |
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|
|
Financials (as
on) : |
31.03.2012 (Profit and Loss Account) |
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|
Date of
Incorporation : |
29.10.1998 |
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|
|
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Com. Reg. No.: |
04-034888 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.537.943
Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
u29199gj1998plc034888 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
Line of Business
: |
Manufacturer of EOT Cranes and Goliath Cranes. |
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|
|
No. of Employees
: |
1900 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7200000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. There appears some dip in the revenue earned from operation and
profits during 2012. However, trade relations are reported as fair. Business is active.
Payment terms are usually correct and as per commitment. The company can be considered for business dealings at usual trade
terms and condition. Note: Current year balance sheet not available. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB+(SO) (Long Term Bank
Facilities) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
07.02.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A3 (Short Term Bank Facilities) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
07.02.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
Management non co-operative
LOCATIONS
|
Registered Office/ Factory 1 : |
138, GIDC Estate, Vithal Udhyog Nagar, district Anand-388121, Gujarat, India |
|
Tel. No.: |
91-2692-236118 |
|
Mobile No.: |
91-9998568151 (Mr. Gokul) |
|
Fax No.: |
91-2692-236324 |
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E-Mail : |
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|
Website : |
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Location : |
Leased |
|
|
|
|
Factory 2 : |
Nadiad – Dakor road,
Village Salun, Gujarat, India |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Jagdishchandra Chhotalal Patel |
|
Designation : |
Chairman |
|
Address : |
Anupam Nana Bazar, Vallabh Vidyanagar-388001, Gujarat, India |
|
Date of Birth/Age : |
06.01.1940 |
|
Date of Appointment : |
29.10.1998 |
|
DIN No.: |
00509578 |
|
|
|
|
Name : |
Mr. Mehul Jagdishchandra Patel |
|
Designation : |
Managing Director |
|
Address : |
Anupam Nana Bazar, Vallabh Vidyanagar-388001, Gujarat, India |
|
Date of Birth/Age : |
17.07.1969 |
|
Date of Appointment : |
29.10.1998 |
|
DIN No.: |
00509597 |
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|
|
|
Name : |
Ms. Shreya Mehul Patel |
|
Designation : |
Executive Director |
|
Address : |
Anupam Nana Bazar, Vallabh Vidyanagar-388001, Gujarat, India |
|
Date of Birth/Age : |
13.12.1969 |
|
Date of Appointment : |
29.10.1998 |
|
DIN No.: |
00509616 |
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|
|
|
Name : |
Mr. Rahul Dinesh Shah |
|
Designation : |
Director |
|
Address : |
Lanuvilla, B-2 and 3, 79-B, Tagore Road, Santacruz (West),
Mumbai-400054, Maharashtra, India |
|
Date of Birth/Age : |
26.03.1963 |
|
Date of Appointment : |
29.06.2012 |
|
DIN No.: |
00030807 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Equity Shareholders |
No. of Shares |
|
Mehul Jagdishchandra Patel |
3198367 |
|
Jagdishchandra Chhotalal Patel |
187997 |
|
Shreya Mehul Patel |
414844 |
|
Kuntal Jagdishchandra Patel |
2938 |
|
Pritesh Pramodbhai Patel |
40 |
|
Meena Pritesh Patel |
40 |
|
Aditya Birla Private Equity Trust A/C
Aditya Birla Private Equity Fund, India |
100 |
|
TOTAL
|
3804326 |
|
Names of Preference Shareholders |
No. of Shares |
|
Aditya Birla Private Equity Trust A/C
Aditya Birla Private Equity Fund, India |
499900 |
|
TOTAL
|
499900 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of EOT Cranes and Goliath Cranes. |
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Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Installed
Capacity* |
Actual
Production |
|
EOT Cranes |
350 Nos. [In Tonnes
33000] |
251 |
|
Tower Cranes |
60 Nos. |
21 |
NOTE: * As certified by the Management, being technical matter.
GENERAL INFORMATION
|
No. of Employees : |
1900 (Approximately) |
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Bankers : |
· The Anand Mercantile Co-Op Bank Limited, Mercantile, Maharshi Dayanand Marg, Anand-388001, Gujarat, India · Axis Bank, Trishul, 3rd Floor, Opposite Samtheshwar Mahadev, Law Garden, Eliss Bridge, Ahmedabad-380009, Gujarat, India · ICICI Bank, V V Nagar, Anand, Gujarat, India · State Bank of India, Baroda Branch, Gujarat, India · HDFC bank, Ahmedabad Branch, Gujarat, India · Standard chartered Bank, Baroda Branch, Gujarat, India · Barclays Bank PLc |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins And Sells Chartered Accountant |
|
Address : |
Heritage, 3rd Floor, Near Gujarat Vidyapith, Off |
|
PAN No.: |
AADFD2337G |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs. 40.000 Millions |
|
500000 |
Preferences Shares |
Rs.1000/- each |
Rs. 500.000 Millions |
|
|
TOTAL |
|
Rs. 540.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3804326 |
Equity Shares |
Rs.10/- each |
Rs. 38.043
Millions |
|
499900 |
Preferences Shares |
Rs.1000/- each |
Rs. 499.900
Millions |
|
|
TOTAL |
|
Rs. 537.943 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
537.943 |
437.943 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
1272.910 |
969.573 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1810.853 |
1407.516 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
1135.544 |
647.717 |
|
|
2] Unsecured Loans |
|
40.186 |
32.536 |
|
|
TOTAL BORROWING |
|
1175.730 |
680.253 |
|
|
DEFERRED TAX LIABILITIES |
|
38.987 |
29.386 |
|
|
|
|
|
|
|
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TOTAL |
|
3025.570 |
2117.155 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
|
630.470 |
567.611 |
|
|
Capital work-in-progress |
|
224.691 |
1.745 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
19.900 |
19.900 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
907.759
|
600.169 |
|
|
Sundry Debtors |
|
1436.460
|
1668.520 |
|
|
Cash & Bank Balances |
|
82.913
|
197.011 |
|
|
Other Current Assets |
|
556.010
|
0.000 |
|
|
Loans & Advances |
|
560.143
|
300.328 |
|
Total
Current Assets |
|
3543.285 |
2766.028 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
772.055
|
756.104 |
|
|
Other Current Liabilities |
|
256.403
|
263.649 |
|
|
Provisions |
|
385.906
|
239.965 |
|
Total
Current Liabilities |
|
1414.364 |
1259.718 |
|
|
Net Current Assets |
|
2128.921
|
1506.310 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
21.588 |
21.589 |
|
|
|
|
|
|
|
|
TOTAL |
|
3025.570 |
2117.155 |
|
NOTE: Current year
balance sheet is not available only profit and loss account is available
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2789.352 |
3059.954 |
3025.498 |
|
|
|
Other Income |
8.565 |
8.095 |
6.934 |
|
|
|
TOTAL (A) |
2797.917 |
3068.049 |
3032.432 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1892.391 |
1914.556 |
|
|
|
|
Employee benefit expense |
236.611 |
189.133 |
|
|
|
|
Other Expenses |
536.806 |
440.517 |
|
|
|
|
Exceptional items before tax |
(179.225) |
0.000 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(193.066) |
(114.952) |
|
|
|
|
TOTAL (B) |
2293.517 |
2429.254 |
2157.088 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
504.400 |
638.795 |
875.344 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
224.411 |
131.266 |
139.012 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
279.989 |
507.529 |
736.332 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
65.935 |
47.412 |
40.644 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
214.054 |
460.117 |
695.688 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
69.132 |
156.733 |
255.130 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
144.922 |
303.384 |
440.558 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
1.866 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
NA |
425.000 |
|
|
|
Tax on Dividend |
NA |
NA |
0.005 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
17.419 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
96.634 |
28.049 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
124.823 |
111.424 |
111.818 |
|
|
|
Capital Goods |
0.000 |
4.446 |
21.862 |
|
|
TOTAL IMPORTS |
124.823 |
115.870 |
133.680 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
38.08 |
79.75 |
115.80 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.18
|
9.89 |
14.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.67
|
15.04 |
22.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
11.02 |
20.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.25 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
NA
|
0.65
|
0.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
2.50
|
2.20 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
|
Unsecured Loan |
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
|
Directors Loan |
40.186 |
32.536 |
|
|
|
|
|
TOTAL |
40.186 |
32.536 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
|
|
|
|
Creditors due
small micro enterprises |
|
13.156 |
0.000 |
|
Creditors due others |
|
758.899 |
756.104 |
|
|
|
|
|
|
TOTAL |
|
772.055
|
756.104 |
BACKGROUND
Subject was laid
back in 1973. During its span of more than 3 decades, it has supplied more than
4000 Cranes. The company has its own manufacturing facilities in Anand and Nadiad
of Gujarat, India. The company has recently entered into strategic joint
venture by joining hands with Japanese manufacturing giant Mitsubishi Heavy
Industries Limited and formed Anupam MHI Industries Limited whereby its looks
to exploit the oligopolistic market in Port cranes manufacturing segment in
India.
FORM 8
|
Corporate
identity number of the company |
U29199GJ1998PLC034888 |
|
Name of the
company |
ANUPAM INDUSTRIES
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
138, GIDC Estate, Vithal Udhyog Nagar, district Anand-388121, Gujarat, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10248350 |
|
Type of charge |
|
|
Particular of
charge holder |
Axis Bank, Trishul, 3rd Floor, Opposite Samtheshwar Mahadev, Law Garden, Eliss Bridge, Ahmedabad-380009, Gujarat, India |
|
Nature of
instrument creating charge |
Supplemental Deed
Of Hypothecation Dated 24.09.2012 |
|
Date of
instrument Creating the charge |
24.09.2012 |
|
Amount secured by
the charge |
Rs. 1100.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest CC: BR plus
2.50%, i.e. presently 12.50% p.a. payable monthly. WCDL: Tenor 90
days: BR plus 1.25%, i.e., presently 11.25% p.a. Tenor 180 days: BR
plus 1.75%, i.e., presently 11.75% TL : BR Plus
2.75% Terms of repayment Repayment on
Demand Margin 25% on Stock and
book debts (cover period - 150 days) and 29.62% on TL Extent and operation of the charge WC : Primary : Pari
passu first charge on entire current assets of the company (both present and
future) Collateral : Pari
passu second charge on entire fixed assets of the company, present and
future, except those assets which are specifically charged to their
respective lender TL : Primary : Pari
passu 1st charge on entire fixed assets of the company (present and future)
with other term lenders Collateral: Pari
passu second charge on entire current assets of the company (present and
future) |
|
Short particulars
of the property charged (Including location of the property) |
WC : Primary : Pari
passu first charge on entire current assets of the company (present and
future) Collateral : Pari
passu second charge on entire fixed assets of the company, present and future TL : Primary : Pari
passu 1st charge on entire fixed assets of the co. (present and future) with
other term lenders Collateral: Pari
passu 2nd charge on entire current assets of co. (present and future) |
|
Date of
instrument modifying the charge |
26.06.2012 |
|
Particulars of
the present modification |
Extension of
charge for fresh term loan of Rs.120.000 Millions with aggregating Limit of
Rs.1100.000 Millions |
CONTINGENT LIABILITIES NO PROVIDED FOR IN RESPECT OF
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Guarantees issued by Banks |
763.423 |
667.267 |
|
Letters of Credit issued by Banks |
356.604 |
21.454 |
|
Debts factored with recourse |
0.000 |
100.448 |
|
Disputed Excise demand and pending under appeal |
0.743 |
0.743 |
|
Disputed demand towards Stamp Duty and pending with Gujarat High Court |
0.000 |
3.100 |
|
Total |
1120.770 |
793.012 |
Fixed assets
· Land
· Building
· Plant and Machinery
· Electrical Installation
· Furniture and Fixtures
· Office Equipments
· Vehicles
· Computers
· air Conditioners
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions between
a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 56.74 |
|
|
1 |
Rs. 88.53 |
|
Euro |
1 |
Rs. 75.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.